Turkish offers aplenty in non-EU markets, as FX drops to record lows

摘要

Automotive steel demand is coming back strongly across the EU, at a pace much faster than metal products, machinery and construction segments. Accordingly, steelmakers in the region have started ramping up production, while being conscious of their role in the regional price cycle. Meanwhile, Turkish mills are offering more into the Asian import market, aided by a depreciating TRY and weaker sales prospects in the European market.